Legal Question in Bankruptcy in Virginia

bankruptcy in va

I have filed bankruptcy and now an inheritance is going to be issued to me. My son and I are on the account together, if he wipes the funds out for himself (which is what I want), are there any legal reprecussions on my end? My lawyer told me I have to turn the money over but I do not want the money to go to waste since I'm bankrupting anyways. Do I legally have to take the funds since we are on a joint account? The funds are in the account at the moment and I have not touched a dime of it. The bankruptcy has proceeded through court but the plan has not confirmed as of yet, and the inheritance issue just arose. Any advice would be wonderful.


Asked on 11/21/08, 3:18 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: bankruptcy in va

If it's your inheritance, and the person died before plan confirmation or within 180 days of filing, it goes to the trustee, period. If you put it in a joint account and someone else spends it, you are still liable. Your failure to turn it over will almost certainly prevent your getting a discharge and may result in prosecution for bankruptcy fraud. Discuss this immediately with your bankruptcy lawyer (and get a lawyer if you don't already have one). We practice bankruptcy law throughout Va., and would be pleased to discuss this matter with you.

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Answered on 11/21/08, 3:33 pm


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